Phnom Penh, 6 February 2023 (TDI): Cambodia and Hungary have been committed to deepening bilateral ties, especially in economic and trade cooperation.

The commitment was made during a bilateral meeting between Tekreth Kamrang, Secretary of State for the Ministry of Commerce of Cambodia, and Tibor BALOGHD, newly appointed Ambassador of Hungary to Cambodia.

Both sides exchanged views on various topics. These included progress, and opportunities to promote bilateral trade and economic cooperation at the ministry office late last week.

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Moreover, Tekreth Kamrang welcomed the new role of Tibor BALOGHD. She thanked the Hungarian side for enhancing and expanding close bilateral cooperation in all domains, particularly trade.

On the occasion, Tekreth Kamrang also requested Hungarian investors to study more about trade and investment opportunities in Cambodia. She also encouraged the import of additional agricultural and industrial products from Cambodia.

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In this regard, Tibor BALOGHD thanked the Cambodian Secretary of State for her warm welcome. He also pledged to continue reinforcing good bilateral relations, especially the trade sector, to be stronger and deeper to reach its full potential.

Furthermore, both sides noted the progress of bilateral cooperation between the two countries. They mainly highlighted the successful organization of the 1st Meeting of the Cambodia-Hungary Joint Commission on Economic Cooperation.

Cambodia-Hungary Business Forum

The two sides also optimistically expect to plan an important meeting and the 2nd Cambodia-Hungary Business Forum successfully with fruitful results shortly this year.

In 2022, the bilateral trade volume between the two countries reached US$ 7.44 million, an increase of about 84 percent of US$ 4 million in 2020.

Potential exports from Cambodia to Hungary include garments, footwear, milled rice, grains, vegetable, tobacco, and pharmaceutical products.

On the other hand, potential imported goods from Hungary to Cambodia cover everyday metal objects, organic chemicals, dairy products, artificial thread, processed products from meat, fish, grain, and more.